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40-Year-Old Woman Sentenced to Prison for Embezzling Entire Fortune Over 10 Years in 831 Incidents

Victim Imprisoned and Divorced Leading to Family Breakdown
Appeals Against 9-Year Prison Sentence in First Trial

A woman in her 40s who was prosecuted for deceiving an acquaintance over 831 times and extorting more than 1.4 billion won over 10 years was sentenced to prison, while the victim lost all her assets and got divorced.


According to the legal community on the 10th, the Chuncheon District Court Yeongwol Branch sentenced Ms. A, a woman in her 40s accused of fraud under the Specific Economic Crimes Act, to 9 years in prison last October.

40-Year-Old Woman Sentenced to Prison for Embezzling Entire Fortune Over 10 Years in 831 Incidents Chuncheon District Court.
Photo by Yonhap News

Ms. A was indicted on charges of swindling 1.425 billion won from Mr. Kim (69), who ran a clothing alteration shop in an abandoned mining area in Gangwon Province, over 10 years from 2011 to 2021.


Ms. A, the daughter-in-law of a religious organization official, started by borrowing 9 million won from Mr. Kim in 2011 and repaid it, then continuously demanded more money.


Ms. A extorted money by making excuses such as "I need hospital fees" and "My mother needs brain surgery." She also demanded congratulatory money claiming her father was promoted to an executive at a large corporation and received money by promising to get Mr. Kim’s daughter a job at her father’s company.


Ms. A’s fraudulent scheme continued until May 2021, and Mr. Kim’s life was ruined. Mr. Kim lost all his assets and was divorced by his husband. Mr. Kim, who borrowed money from acquaintances to lend to Ms. A, was also accused of fraud and imprisoned. Some acquaintances who trusted Mr. Kim and lent money to him also suffered family breakdowns.


Moreover, Ms. A visited Mr. Kim, who was on the verge of being detained for fraud because of her, and demanded, "Please write an IOU as if you borrowed 300 million won from me." Fearing that once the investigation started, he might not be able to recover the money, Mr. Kim wrote the IOU.


The court stated, "The victim suffered from debt collection pressure from acquaintances, lost her assets, and experienced family breakdown including divorce from her husband. Above all, she suffered irreparable severe damage by being detained for fraud and serving a prison sentence while trying to raise money."


However, Ms. A appealed the first trial verdict. The first hearing of the appeal trial will be held in March at the Seoul High Court Chuncheon Branch.


© The Asia Business Daily(www.asiae.co.kr). All rights reserved.


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